- The World Bank Group and the African Development Bank Group are partnering to provide electricity access to at least 300 million African people.
- Currently, 600 million Africans lack access to electricity, creating significant barriers to health care, education, productivity, digital inclusivity,
The World Bank Group and the African Development Bank Group are partnering to provide at least 300 million African people with electricity access by 2030.
The World Bank Group will work to connect 250 million people to electricity through distributed renewable energy systems or the distribution grid, and the African Development Bank Group will support 50 million people.
Also, access to electricity is a fundamental human right and is foundational to any successful development effort. Currently, 600 million Africans lack access to electricity, creating significant barriers to health care, education, productivity, digital inclusivity, and ultimately job creation, it added.
According to Ajay Banga, president of the World Bank Group, “Electricity access is the bedrock of all development. It is a critical ingredient for economic growth and essential for job creation at scale.”
“Our aspiration will only be realised with partnership and ambition. We will need policy action from governments, financing from multilateral development banks, and private sector investment to see this through,” Banga added.
Moreover, this partnership demonstrates the World Bank Group and the African Development Bank Group’s determination to be bolder, bigger, and better at tackling one of Africa’s most pressing challenges.
Furthermore, the initiative is the most recent manifestation of the World Bank Group’s commitment to becoming more impact-oriented. The byproduct of a concerted work plan is to build a better bank and a constellation of regional energy programs that will achieve this common goal.